Innovative Ideas for Cost Cutting
You already know you can save money by cutting back on your expensive gourmet coffee habit. However, there must be more than just coffee you can save on. Get organized and think creatively, and you'll see that there are many more ways to cut costs and meet your budget every month.
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Presents
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Every December, millions of people decimate their bank accounts buying presents for friends, family, colleagues and service providers. While generosity is commendable, if you can't afford it, this is one area where you can cut costs. Propose drawing a name among extended family members -- you will likely find that other family members will be relieved not to have to spend so much as well. Plan ahead for other gifts. Rather than racing around at the last minute maxing out your credit card, buy gifts on sale throughout the year and stockpile them. You also can make some of your own gifts, such as taking cuttings from your plants and growing them for gifts later.
Maintain a Healthy, Stable Weight
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Keeping your weight at a healthy level can help you to cut costs in three ways. You will save money on doctor's visits and medications for weight-related ailments. You also can make your wardrobe last if you don't have to purchase new clothes to accommodate a fluctuating waistline. You may also save money on food if you curtail impulsive trips to fast food restaurants. You may get lighter, but your wallet won't.
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Cook from Scratch
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If you're trying to cut costs, chances are you've already drastically cut down on the number of times you eat at restaurants each month. However, the grocery bill is still the biggest expense that many individuals face. You can trim the amount of money you spend on food by cooking from scratch, as prepared foods are usually responsible for running up your grocery bill. Plan meals around staples such as rice, beans, cornmeal and other foods you can buy in bulk. Round them out with vegetables from your garden or that you find in the grocery store at a good price. Buy meat in large packages, as it is often a lower price per pound when packaged in this manner.
Move to a Smaller Home
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Making the move from a large home to a small one can save you hundreds of dollars each month. Not only will you have a smaller home loan or rent payment, but the amount of money you spend on utilities will go down as well. You may find yourself spending less on home repairs as well -- if you have one bathroom instead of three, that is two sinks, two showers and two toilets that you don't have to worry about repairing when things go wrong.
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- Photo Credit coffee and coffee-beans image by Dmitri MIkitenko from Fotolia.com
